For consumers, BitPay introduced a prepaid Visa debit card in 2016 that allows users to load its balance with bitcoins from any wallet. The result of this card — and others like it in the industry, such as Coinbase Inc.’s Shift card — was to make paying for everyday expenses with bitcoin a lot easier. Previously, merchants had to already be signed up for a bitcoin payment processing service, but with these cards, customers can bring it with them.
The new funding round matches the company’s $30 million Series A funding round in 2014. Including this round, BitPay will have raised a total of $62.5 million in venture funding since launch.